All Topics / Finance / attn brokers, scenario question :)

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  • Profile photo of CelcoCelco
    Participant
    @celco
    Join Date: 2004
    Post Count: 10
    February 3, 2005 - 7:35 am

    Hi Guys,

    I was just after a bit of advice. I have a client who is after a Low Doc LOC ($300K) for business use. He currently owns his o/occ outright and would like to secure the loan against his property ($600k). LVR 50%

    Is it possible to take out the loan through his company and have him as the guarator?

    Is this the best solution? Can anyone recommend a specific lender who could do this?

    Thanks in advance! :)

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    February 3, 2005 - 8:43 am

    It may be possible, if the owner is director of the company.

    Another opton would be for him/her to get the loan and then lend it to the company – this is much more common.

    Terryw
    Discover Home Loans
    Mortgage Broker
    North Sydney
    Click below to email me

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

Viewing 2 posts - 1 through 2 (of 2 total)

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